Financial Data and Key Metrics Changes - In Q4 2025, the company reported total revenue of CNY 1 billion, with a gross margin of 10.8% [5][17] - For the full year 2025, total revenue reached CNY 4 billion, down from CNY 4.5 billion in 2024, reflecting lower order volumes amid intensified market competition [17] - Adjusted net profit increased by 107.1% year-over-year to CNY 41.6 million in Q4 2025, and for the full year, adjusted net profit was nearly CNY 200 million [5][19] - The non-GAAP net margin rose to 5% from 4.5% in 2024, indicating a healthy upward trend [16] Business Line Data and Key Metrics Changes - The share of mid to high-value delivery orders has been steadily increasing, with strong demand for electronics delivery, which saw a 17% year-over-year increase in order volume [6][7] - Cake delivery returned to growth in Q4 2025, with order volume increasing by more than 5% year-over-year [8] Market Data and Key Metrics Changes - As of the end of 2025, the service network expanded to 298 cities across China, with 31 million registered riders and 120 million registered users [4] - The company fulfilled 63.2 million orders in Q4 2025, totaling 249.2 million orders for the full year [24] Company Strategy and Development Direction - The company emphasizes a differential service experience as its core competitive advantage, focusing on operational refinement and enhancing service quality [5][15] - FlashEx is exploring low-altitude delivery and has established a dedicated logistics division for drone delivery, which has entered real-world operations [11][12] - The integration of AI technology is a key focus, with plans to enhance operational efficiency and user experience through intelligent interactions [13][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that competition in the on-demand delivery industry will remain intense, but they are confident in their ability to maintain resilience and achieve steady performance [14][28] - The company aims to capture emerging opportunities and create long-term value through innovation and operational excellence [20] Other Important Information - The company held CNY 951.6 million in cash and cash equivalents as of the end of 2025, indicating a healthy cash position [6][19] - The company has partnered with various industry players to expand service scenarios, including a same-city instant rental offering [9][10] Q&A Session Summary Question: Could you please share our fourth quarter order volume and ASP trends broken down by B2B and B2C segments? What is our outlook for order volume trends this year, and what are the key drivers? - The company fulfilled 63.2 million orders in Q4 2025, with a steady outlook for 2026 in both merchant and individual user segments, reflecting consistent demand for high-quality services [24][25] Question: How will the management strategize to embrace AI, and how will this boost our efficiency? - The company is leveraging AI across customer service, operations, and R&D to enhance efficiency and service quality, with plans for AI agent-based interactions to simplify user experience [26][27]

Core Insights - BingEx Limited, operating under the brand "FlashEx," reported its financial results for Q4 and the fiscal year 2025, highlighting a focus on service quality and AI technology integration to enhance operational efficiency and explore new logistics opportunities [1][3]. Financial Performance Highlights - Q4 2025 revenues were RMB1,001.3 million (US$143.2 million), a decrease from RMB1,028.9 million in Q4 2024, primarily due to reduced order volume amid heightened competition [4][5]. - For the fiscal year 2025, total revenues were RMB3,992.1 million (US$570.9 million), down from RMB4,468.2 million in 2024, also attributed to declining order volume [13]. - Gross profit for Q4 2025 was RMB107.9 million (US$15.4 million), with a gross profit margin of 10.8%, an improvement from 10.0% in Q4 2024 [4][6]. - The fiscal year 2025 gross profit was RMB469.1 million (US$67.1 million), with a gross profit margin of 11.8%, up from 11.0% in 2024 [13]. - The company achieved a net income of RMB22.5 million (US$3.2 million) in Q4 2025, compared to a net loss of RMB294.0 million in Q4 2024 [10][11]. - For the full year, net income was RMB109.4 million (US$15.6 million), a significant recovery from a net loss of RMB146.5 million in 2024 [17]. Operational Efficiency - Total operating expenses in Q4 2025 were RMB105.0 million (US$15.0 million), a decrease of 58.9% from RMB255.6 million in Q4 2024, largely due to the recognition of share-based compensation expenses in the previous year [7][8]. - Selling and marketing expenses decreased by 42.4% to RMB52.0 million (US$7.4 million) in Q4 2025 [7]. - Research and development expenses were reduced by 77.6% to RMB18.0 million (US$2.6 million) in Q4 2025 [8]. Share Repurchase Program - The Board of Directors approved a one-year extension of the existing share repurchase program, allowing for the repurchase of up to US$30 million worth of shares until April 1, 2027 [21]. - As of March 16, 2026, the company had repurchased approximately 2.8 million ADSs for a total consideration of about US$9.2 million [21]. Future Outlook - The company plans to continue enhancing user experience, supporting its rider community, and strengthening operational excellence while leveraging AI technologies for improved service management and exploring low-altitude delivery opportunities [3][5].

Company Overview - BingEx Limited, trading on Nasdaq under the ticker FLX, is a leading provider of on-demand dedicated courier services in China, branded as "FlashEx" [1][3] - The company focuses on delivering superior time certainty, delivery safety, and service quality to both individual and business customers [3] Financial Reporting - BingEx will report its fourth quarter and fiscal year 2025 unaudited financial results on March 17, 2026, before the U.S. market opens [1] - An earnings conference call is scheduled for the same day at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the financial results [1] Conference Call Details - Participants must pre-register for the conference call via a provided link, after which they will receive dial-in numbers and a personal PIN [2] - A live webcast of the conference call will be available on the company's investor relations website, with a replay accessible after the session [2]

Core Viewpoint - BingEx Limited, a leading on-demand dedicated courier services provider in China, is set to report its third quarter 2025 unaudited financial results on November 19, 2025, before U.S. market opening [1] Group 1: Financial Reporting - The company will host an earnings conference call on November 19, 2025, at 8:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the financial results [1] - Participants must pre-register for the conference call to receive dial-in numbers and a personal PIN [2] Group 2: Company Overview - BingEx Limited operates under the brand "FlashEx," providing on-demand dedicated courier services with a focus on time certainty, delivery safety, and service quality [3] - FlashEx has established itself as a synonymous brand for on-demand dedicated courier services in China, aiming to enhance customer experience and deliver unique value [3]

Core Viewpoint - BingEx Limited, a leading on-demand dedicated courier services provider in China, is set to report its second quarter 2025 unaudited financial results on August 19, 2025, before U.S. market opening [1]. Company Overview - BingEx Limited (Nasdaq: FLX) is recognized as a pioneer in providing on-demand dedicated courier services in China, branded as "FlashEx" [3]. - The company emphasizes superior time certainty, delivery safety, and service quality, aiming to enhance customer experience and deliver unique value [3]. Earnings Conference Call - An earnings conference call will be held on August 19, 2025, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the financial results [1]. - Participants must pre-register for the conference call to receive dial-in numbers and a personal PIN [2].

Group 1 - BingEx Limited will report its first quarter 2025 unaudited financial results on May 22, 2025, before the U.S. market opens [1] - An earnings conference call is scheduled for May 22, 2025, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the results [1] - Participants must pre-register for the conference call to receive dial-in numbers and a personal PIN [2] Group 2 - BingEx Limited is a pioneer in providing on-demand dedicated courier services in China, branded as "FlashEx" [3] - The company focuses on superior time certainty, delivery safety, and service quality for both individual and business customers [3] - BingEx aims to enhance people's lives through its services and is committed to delivering a superior customer experience [3]

Core Viewpoint - BingEx Limited, a leading on-demand dedicated courier services provider in China, is set to report its fourth quarter and fiscal year 2024 unaudited financial results on March 12, 2025, before U.S. market opening [1] Group 1 - The earnings conference call will take place on March 12, 2025, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the financial results [1] - Participants must pre-register for the conference call to receive dial-in numbers and a personal PIN [2] - A live webcast of the conference call will be available on the company's investor relations website, with a replay accessible after the session [2] Group 2 - BingEx Limited is recognized as a pioneer in providing on-demand dedicated courier services in China, branded as "FlashEx" [3] - The company emphasizes superior time certainty, delivery safety, and service quality in its offerings [3] - BingEx aims to enhance people's lives through its services and is committed to delivering a superior customer experience [3]